Aviation giant United Airlines Holdings, Inc. (NYSE: UAL) reported a narrower net loss for the first quarter of 2022 as the company’s revenues more than doubled during the period. Meanwhile, the results fell short of expectations.
The airline incurred a loss of $4.24 per share in the first quarter, on an adjusted basis, which is narrower than the $7.50-per share loss recorded last year. The reported net loss was $1.38 billion or $4.24 per share, compared to a loss of $1.36 billion or $4.29 per share in the first quarter of 2021. The bottom line missed the Street view.
First-quarter operating revenues more than doubled year-over-year to $7.57 billion. Analysts were looking for faster growth.
Check this space to read management/analysts’ comments on UAL’s Q1 results
Shares of United Airlines closed Wednesday’s regular trading higher and continued to gain during the extended session, immediately after the announcement.